23 May 2017

The United Arab Emirates has condemned the terrorist attack that took place outside the Manchester Arena in northern England late on Monday, killing 22 people and injuring 50 others.

In a statement issued on Tuesday, the UAE Ministry of Foreign Affairs and International Cooperation emphasised the UAE's unwavering stance that rejects terrorism in all its forms and manifestations, according to the state news agency WAM.

The statement called on the international community "to ensure the eradication of the serious scourge of terrorism that is contrary to all moral and humanitarian values".

The president of the UAE, Sheikh Khalifa bin Zayed Al Nahyan, also sent a cable of condolences to Queen Elizabeth II of the United Kingdom.

Prime Minister Theresa May said the incident was being treated as a terrorist attack, making it the deadliest militant assault in Britain since four British Muslims killed 52 people in suicide bombings on London's transport system in July 2005.

Reuters reported that French Prime Minister Edouard Philippe on Tuesday called on French citizens to be vigilant following the attack, while German Chancellor Angela Merkel promised to fight those who commit such inconceivable deeds.

U.S. President Donald Trump extended his condolences to the victims and said those behind the attack were "evil losers".

As Islamic State supporters celebrated the attack on social media, countries from the United States to Japan and Singapore are considering tightening security ahead of major theatre and sports events, Reuters reported.

The U.S. Department of Homeland Security said the American public may experience increased security at public events, while in Singapore the organiser of Britney Spears' concerts in June said they were considering new measures.

Across the business world the impact has also been felt. Sterling extended losses on Tuesday, but the impact on other areas of the market was limited.

In relation to gold INTL FCStone analyst Edward Meir said movement was limited but he believed “that gold will respond more forcefully going into Tuesday's session as geopolitical tensions start to rise again".

Britain's terrorism reinsurance fund Pool Re will work with its members to resolve any claim arising from the suicide bomb attack, chief executive Julian Enoizi said on Tuesday.

Pool Re, set up in 1993, acts as a backstop to insurers paying out claims on property damage and business interruption, Reuters reported. It is financed by the insurance industry with government backing, and pay outs depend on the British government deeming an attack to be terror-related.

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